Meta (facebook) launches NFT display options on Facebook.

[Kavelj22]

Few days ago, Meta company announced  launch of a new NFT display options on Facebook.
Facebook users will be able to create posts with custom NFT, with a Digital Collectible tag.
Profiles will also have a new, dedicated NFT section to show off their NFT artworks.

https://cointelegraph.com/news/nfts-to-appear-on-facebook-cross-post-with-instagram-as-meta-web3-expansion-continues?

Do you think there exist a privacy risk if the wallet is linked with Facebook or other social media? Will facebook users will still have the option to use metamask or facebook will develop his own wallet?

[1714049612]

1714049612

[vv181]

Do you think there exist a privacy risk if the wallet is linked with Facebook or other social media?

Dude, Meta is an advertising company, of course, they want to know further whether you are interested in cryptocurrencies or not. It gives more money for them, and also it suits with their ideal of the metaverse. And also, Twitter has done that, would be naive if Meta didn't catch up.

Will facebook users will still have the option to use metamask or facebook will develop his own wallet?

As a start, they can/able to simply connect the address with the current popular web3 wallet, that seems the reasonable thing to do even after it's been established, noting Twitter also does that. It gives both the user and the company not much of a hassle since the targeted users are already familiar with it.

[Kavelj22]

Will facebook users will still have the option to use metamask or facebook will develop his own wallet?

As a start, they can/able to simply connect the address with the current popular web3 wallet, that seems the reasonable thing to do even after it's been established, noting Twitter also does that. It gives both the user and the company not much of a hassle since the targeted users are already familiar with it.

I am not a facebook/instagram user myself.
According to this article, users will be able to connect Rainbow, Trust Wallet and MetaMask accounts to verify NFT ownership.
https://www.socialmediatoday.com/news/meta-launches-new-nft-display-options-on-facebook/626428/

[keyscore44]

Few days ago, Meta company announced  launch of a new NFT display options on Facebook.
Facebook users will be able to create posts with custom NFT, with a Digital Collectible tag.
Profiles will also have a new, dedicated NFT section to show off their NFT artworks.

https://cointelegraph.com/news/nfts-to-appear-on-facebook-cross-post-with-instagram-as-meta-web3-expansion-continues?

Do you think there exist a privacy risk if the wallet is linked with Facebook or other social media? Will facebook users will still have the option to use metamask or facebook will develop his own wallet?

Facebook is such a powerful sompany that they don't need to take advantage of someone else's ideas. If they wanted to, they would create their own market and would probably become the largest NFT market. However, I'm not sure if Mark Zuckerberg will want to do this.

[Baofeng]

Will facebook users will still have the option to use metamask or facebook will develop his own wallet?

As a start, they can/able to simply connect the address with the current popular web3 wallet, that seems the reasonable thing to do even after it's been established, noting Twitter also does that. It gives both the user and the company not much of a hassle since the targeted users are already familiar with it.

I am not a facebook/instagram user myself.
According to this article, users will be able to connect Rainbow, Trust Wallet and MetaMask accounts to verify NFT ownership.
https://www.socialmediatoday.com/news/meta-launches-new-nft-display-options-on-facebook/626428/

Maybe it those wallets are going to be hacked, then obviously, you personal details might be exposed as well, so there is a privacy risk. I mean privacy risk is always there, regardless if it is Facebook or not. The problem lies on how they as a company going to protect our data. And they have the history of selling it right?  Facebook sued over Cambridge Analytica data scandal. So I wouldn't be confident with them, or the contrary, I will not take advantage of any NFT that they are going to advertised.

[romero121]

Facebook is already into the threatening of privacy. Not the search engine results are getting popped as advertisements, but the conversation we make between friends based on a product/service were also coming as suggestion when we open facebook. This is how the privacy of facebook. Now with this, we can get to see more NFT suggestions on our page. Finally it reveals the particular wallet belongs to the specific person.

[blockman]

I'm starting to see their ads on my feed and they really are going into Metaverse and that's also somehow connected why they've changed their mother company name into Meta.

Do you think there exist a privacy risk if the wallet is linked with Facebook or other social media?

Yes, we all know that Meta/Facebook is a company that collects data.

Will facebook users will still have the option to use metamask or facebook will develop his own wallet?

We don't know yet.

[vv181]

Will facebook users will still have the option to use metamask or facebook will develop his own wallet?

As a start, they can/able to simply connect the address with the current popular web3 wallet, that seems the reasonable thing to do even after it's been established, noting Twitter also does that. It gives both the user and the company not much of a hassle since the targeted users are already familiar with it.

According to this article, users will be able to connect Rainbow, Trust Wallet and MetaMask accounts to verify NFT ownership.
https://www.socialmediatoday.com/news/meta-launches-new-nft-display-options-on-facebook/626428/

Yes, that is expected. Meta won't bother to create their own wallet, those wallets already got mainstream attention within the targeted segment, so they are able to focus develop the backend to be integrated with NFT.

But looking an extreme scenario in the future, If somehow Meta demanded more about the user data, it could be they may develop their own wallet, and monopolise their own wallet as the accepted one.

[crypto-project]

Do you think there exist a privacy risk if the wallet is linked with Facebook or other social media? Will facebook users will still have the option to use metamask or facebook will develop his own wallet?

Of course, only fools link their digital wallet with their Facebook account (if this feature really exists). Crypto allows someone to be able to transact anonymously, but when someone links their wallet with their facebook account this means that facebook knows who owns the digital wallet and all transactions in that wallet and this will allow facebook to collect huge amount of data about crypto transactions globally .

[Faisal2202]

Great news it is, this will increase the price of nfts and othe metaverse projects like digital lands, animals etc, the new era of vr gaming is going to be launched officially very soon, so we should save some usdt to invest in this field too, new earning opportunities will also come with this facebook, and i hope that this option is not only restricted in USA, or other limited countries,
It should be launched officially in all over the world for better adoption of crypto and NFTs

[kensaii]

Facebook is already into the threatening of privacy. Not the search engine results are getting popped as advertisements, but the conversation we make between friends based on a product/service were also coming as suggestion when we open facebook. This is how the privacy of facebook. Now with this, we can get to see more NFT suggestions on our page. Finally it reveals the particular wallet belongs to the specific person.

More bad news for Facebook, they also downsize and cut down a lot of employees too. It seems like they trying to get people into anything that gives them back info/money at this point. Basically, seeing you only as a cow, how to milk you as best as they can, not even at the customer level anymore. Your privacy is now being disregarded more than ever.

[Doell]

Will facebook users will still have the option to use metamask or facebook will develop his own wallet?

As a start, they can/able to simply connect the address with the current popular web3 wallet, that seems the reasonable thing to do even after it's been established, noting Twitter also does that. It gives both the user and the company not much of a hassle since the targeted users are already familiar with it.

I am not a facebook/instagram user myself.
According to this article, users will be able to connect Rainbow, Trust Wallet and MetaMask accounts to verify NFT ownership.
https://www.socialmediatoday.com/news/meta-launches-new-nft-display-options-on-facebook/626428/

Maybe it those wallets are going to be hacked, then obviously, you personal details might be exposed as well, so there is a privacy risk. I mean privacy risk is always there, regardless if it is Facebook or not. The problem lies on how they as a company going to protect our data. And they have the history of selling it right?  Facebook sued over Cambridge Analytica data scandal. So I wouldn't be confident with them, or the contrary, I will not take advantage of any NFT that they are going to advertised.

Even Facebook or others are not very secure and strict, prone to account hijacking in the past or now. I don't really trust the social platform myself, but wallets like Metamask Trustwallet have separate privacy. Maybe not to create own wallet is better for the platform, but depending on other security I mean if there is multiple security like fingerprint etc it will be more reliable.

[el kaka22]

NFT is a good amount of attention grabbing thing in most tech stuff. Facebook is not interested in making NFT or meta world something big, they do not care about your investment at all. What they care about is getting attention. This means that we are in a world where facebook is doing this ONLY for making more money.

So, if you think for one second that they turned their name to Meta, or making these NFT stuff, just because they are very interested in it as well, then you are very wrong. They are only doing it because they care about the fact that they could make some good amount of profit from it. This is why I believe that we shouldn't really be getting hyped about it.

[PrivacyG]

Cool.  If Facebook itself was not enough of a privacy threat, then having this 'easy 1 2 3' connection between your life's timeline and your Cryptocurrency holdings will definitely not be either. (sarcasm)

They already have very accurate information about everything you do and like and a very good idea about what you even think and or want.  It is obvious they are only trying to further destroy the idea of privacy by implementing these seemingly fancy things.  Because let us face it, Facebook definitely does not like Bitcoin.  If you see what their failed centralized currency Libra meant, you would know they are not a fan of decentralization.  They just have a really bad craving for your personal information and this is them manifesting it.

-
Regards,
PrivacyG

[SirLancelot]

Sooner or later, meta will create their own wallet maybe their own chain as well. We can say that, their continuous innovation can make things possible. Privacy risk? I don't think our privacy will be at risk, a user should also be responsible for every actions that he will make. Every project has their own security team, and user should be part of it because most of the time the reason why a person got hack is because of his own fault.

This is possible but I only don't think if this will become successful or if they will push it. Maybe this will be the same to what happened with libra coin which facebook have planned to create. You think your privacy is safe with them because they are a big company and maybe you aren't aware that they have been involved in an issue in regards to the data of the users.

Normal users can't be part of the project's team but what you mean there is that they should cooperate to what is being advised to them in order to secure their data's. Yes it's true that sometimes its the users fault because they aren't knowledgeable enough.

[Wexnident]

Do you think there exist a privacy risk if the wallet is linked with Facebook or other social media? Will facebook users will still have the option to use metamask or facebook will develop his own wallet?

Uhm yes quite naturally? Facebook is a hub of people who pretty much do not mind (or are ignorant) of Facebook collecting their information for their own use. Heck, they even use it themselves as a way to publicize who they are and what they're doing. I don't even think this would be a thing for other users, this would just be used by project owners themselves as an advertisement of sorts. As for connecting wallets, this should be rather easy to implement at this point in time imo so I don't think they wouldn't do that. As for implementing/creating their own wallet, well it certainly wouldn't be impossible.

[Fundamentals Of]

It seems more possible for Facebook or Meta now to open up for other wallets to get linked to it because they have just pulled the plug on their own wallet Novi. I have read on the news lately that Facebook or Meta is not anymore interested to pursue its plans to further develop their own crypto wallet. Now that it's final for them to stop this venture, it is more likely that options will widen for its users. Perhaps Metamask will be accommodated in the next months or years.

[Kavelj22]

An important detail that I think should not be overlooked is the cryptocurrency that the company is supposed to release in the last quarter of this year. This currency is supposed to have a fixed exchange rate against the dollar just like known stable coins. The coin is named Diem and is in the derivational form of the formerly abandoned Libra coin project.
https://codersera.com/blog/facebooks-libra-another-crypto-should-you-care/

According to the latest news, the currency project is under great pressure from financial lawmakers in the United States, in clear fear that Facebook will misuse the currency or the payment system that it will create.
https://www.dw.com/en/facebook-backed-cryptocurrency-sold-amid-regulatory-pressure/a-60616823

In your opinion, do the new updates about NFT have anything to do with the cryptocurrency project and how will be the matching between the different networks if the company obtains the official approval to launch its currency?

[vv181]

According to the latest news, the currency project is under great pressure from financial lawmakers in the United States, in clear fear that Facebook will misuse the currency or the payment system that it will create.
https://www.dw.com/en/facebook-backed-cryptocurrency-sold-amid-regulatory-pressure/a-60616823

In your opinion, do the new updates about NFT have anything to do with the cryptocurrency project and how will be the matching between the different networks if the company obtains the official approval to launch its currency?

The whole NFT/Metaverse things are already been talked about by Zucks at the Metaverse announcement video[1], and his podcast with Gary Vee[2]. I conclude the update is likely due to their main goals of the Metaverse and mainly to keep up with about what's happening. IIRC, he is also already concerned in regard to the interoperability of it, and surely will try to find a way to integrate anything.

Regarding their Diem project, it's been since a long time ago that it has been getting scrutiny. So, I don't think there is any hope that Meta will look further into it.

[1] https://youtu.be/Uvufun6xer8
[2] https://youtu.be/iwyyxEJCIuU

[Kavelj22]

Regarding their Diem project, it's been since a long time ago that it has been getting scrutiny. So, I don't think there is any hope that Meta will look further into it.

This is what all the data actually indicate that the idea has been completely abandoned, and perhaps the company is on its way to looking for alternatives.
I also expect that the crises experienced by the company regarding its infringement of the privacy of users and the dangerous exploitation of their personal data was very influential for the authorities in making a decision regarding the eligibility of the company to establish its own financial system.